X is a large law firm with 800 lawyers based partly in London (where they own a small building) and with a back-office hub in Basildon, which they also own.
(a) What insurance product(s) is/are compulsory for X to buy?
I think it will be the employers' liability and motor third-party liability(if the firm own the cars), but except those two, is there any other insurance product that is compulsory for X to buy?
(b) Apart from the product(s) mentioned in (a), what is the most important insurance product that X should buy, whose absence risks bankrupting the firm? Explain why.
For this question, I think that Professional indemnity, Directors' & Officers' liability and Errors & Omissions cover is the most important insurance product that X should buy.
But I do not know the difference between D & O with E & O.
whose absence risks bankrupting the firm? I do not understand this question, who could explain to me that what does mean by "absence risks bankrupting the firm". thank you!!
(c) Name two more insurance products that X is likely to buy – give priority to the more important – and explain why.
Business interruption cover
Commercial & industrial buildings
Those 2 are what I thought, any others you could think as priority to these two above? Ta..
Last edited by a moderator: Mar 25, 2012
